AirAsia X launches Malaysia IPO of up to $370 million

The Malaysian low-cost, long-haul airline starts the bookbuilding for its IPO, which if successful will be the biggest in the country so far this year.

AirAsia X, a low-cost, long-haul airline that operates primarily in Asia-Pacific, started the bookbuilding yesterday for its Malaysian initial public offering, aiming to raise between $294 million and $370 million.

AirAsia X is controlled by AirAsia, the Malaysian low-cost carrier LCC founded by Tony Fernandes, and is responsible for all the long-haul international flights under the AirAsia brand.

After bankers started investor education last month, the management roadshow...